Whitecap Resources (TSE:WCP) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Whitecap Resources Inc. stock price has crossed above its 200-day moving average, trading at C$11.13 after reaching a high of C$11.15.
• Analyst ratings have been positive, with target price increases from institutions like National Bank and Raymond James, resulting in an average target price of C$13.57.
• The company announced a $0.0608 dividend to be paid on October 15th, with a payout ratio of 49.97%.

Whitecap Resources Inc. (TSE:WCP - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$9.19 and traded as high as C$11.15. Whitecap Resources shares last traded at C$11.13, with a volume of 13,566,421 shares changing hands.

Wall Street Analyst Weigh In

WCP has been the subject of a number of research analyst reports. Raymond James Financial lifted their target price on shares of Whitecap Resources from C$13.00 to C$14.00 and gave the company a "strong-buy" rating in a research note on Thursday, July 24th. Desjardins raised shares of Whitecap Resources from a "hold" rating to a "buy" rating and raised their price target for the company from C$12.00 to C$12.50 in a report on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. According to MarketBeat, Whitecap Resources currently has an average rating of "Buy" and an average price target of C$13.57.

Whitecap Resources Stock Down 1.0%

The business's fifty day simple moving average is C$10.28 and its 200 day simple moving average is C$9.23. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 21.58. The stock has a market cap of C$13.34 billion, a price-to-earnings ratio of 7.42, a price-to-earnings-growth ratio of -0.33 and a beta of 0.74.

Whitecap Resources Announces Dividend

The firm also recently announced a sep 25 dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.0608 per share. Whitecap Resources's dividend payout ratio is presently 49.97%.

Insider Buying and Selling

In other Whitecap Resources news, Director Grant Bradley Fagerheim bought 5,000 shares of the stock in a transaction on Wednesday, September 3rd. The stock was purchased at an average price of C$10.32 per share, with a total value of C$51,600.00. Following the acquisition, the director owned 3,195,745 shares of the company's stock, valued at approximately C$32,980,088.40. The trade was a 0.16% increase in their ownership of the stock. Over the last three months, insiders have acquired 25,000 shares of company stock worth $246,600. 0.84% of the stock is currently owned by insiders.

Whitecap Resources Company Profile

Whitecap Resources Inc is engaged in the business of acquiring, developing, and holding interests in petroleum and natural gas properties and assets. The company acquires assets with discovered petroleum initially in place and low current recovery factors. Light oil is the primary byproduct of Whitecap's Canadian assets.